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Health Insurance for the Young - It Is No Longer a ‘Good to Have’

January 13 2017

Reasons why health insurance for the younger generation is necessary

According to a report published in the Indian Journal of Medical Research, at least 20% of young people in India are likely to experience some form of mental illness like depression, mood disturbances, substance abuse, suicidal behaviours, eating disorders, and others.

44% women and 47% men in the age group of 15-24 years were abnormally thin, and 56% women and 25% of men in the same age group were anaemic. The overall prevalence of overweight and obesity is 12.64% in children aged 2 to 19 years.

The suicide rate among the age group of 15-29 years is on the rise in India. It increased from 3.73 per 100,000 population in 2002 to 3.96 per 100,000 population in 2011.

Youth and Health Contradiction

Youth is commonly considered a period of healthy times in life. However, studies about health among the youth tell a different story. Youth has now become a critical period in life. This is a period of major physiological and behavioural changes as the patterns of social collaborations change.

The youth of today are vulnerable to the social and lifestyle factors, which are challenging their health and well-being. The behavioural patterns during the youth years define health in the later stages of life. Malnutrition, over-nutrition, tobacco use, alcohol use, other substance use, stress, common mental disorders, and injuries including suicides are upsetting the youth with long lasting impacts.

Given this scenario, the importance of health insurance in early years cannot be undermined. It is not just good to have a health insurance but the scary health scenario has made it a must have for financial protection. The health insurance claims data also emphasises this fact.

Health Insurance Claims by Youth

The highest number of health insurance claims (17% or over 5.25 lakh claims) paid belonged to people in the age group of 26-35 years. Health insurance claims paid for people in the age group of 16 to 25 years is also significant. More than 2.27 lakh claims were paid for those in the age group of 16 to 25 years, which was more than the claims (2.12 lakh) paid to people in the age group of 56-60 years.

Youth are prone to illnesses caused by lifestyle changes, particularly in urban areas. Healthcare costs in urban areas are more expensive than in rural areas. Mumbai, the largest metro, is the most expensive, which is followed by Delhi and Bengaluru. A health emergency in times of rising healthcare costs can have a catastrophic impact on your finances. It is, therefore, sensible to term health insurance a must have given the implications it has at the individual and social levels.

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